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Premiere Self Storage

Landmark Capital is pleased to announce the successful closing of a $12,625,000 construction loan to develop a new 78,775 square foot – Class A mini-storage and RV / boat storage facility in Federal Way, WA.

Key attributes of the transaction included non-recourse construction lending for a new self-storage facility at 75% LTC. The loan was priced at L+600 with a lower current pay of L+475. Landmark was able to identify a lender with substantial experience in self-storage construction that recognized the value added to the site by the borrower since putting it under contract in July 2017.